Added: Dec 5, 2008
From: fxbootcamp
Duration: 9:26
After some fantastically huge moves yesterday during the NY session (gbp/jpy 1200 pip day!), Asian session offered some nice tradeable pullbacks that extended into early pre-London. In this video however, we illustrate how we built a trade plan around GBP/USD breaking it's overlapping Fibonacci and visual support after bouncing off the 4hr 21ema and 61.8 fib of the long term drop. Using drawn trend lines, short term confirmation in the form of 1minute Fibonacci studies, we were able to sneak our way into this move with very little risk. This trade made it all the way to yesterdays low, in fact briefly breaching it, creating what looks like a nice double bottom on the daily. Nice way to earn 110-160 pips depending on entry. Just have to love Fibonacci.FXBootcamp London Currency Coach-Christian Stephens
Channel: Education
Tags: 21ema 38.2 4hr 61.8 bottom breakout christian double fibonacci forex fxbootcamp gbp/jpy gbp/usd london stephens support
Rating: 5.00 (2 ratings) Views: 547 Comments: 0
